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First Eagle Investment Management has significantly cut its position in UniFirst Corp (NYSE:UNF) to 221,400 shares, from 750,400 shares owned previously. In a new filing with the Securities and Exchange Commission, First Eagle reported a passive stake, which amasses just around 1.5% of the company’s stock.

First Eagle Investment Management, with an equity portfolio worth $34.43 billion, focuses on Basic Materials, Services, Technology, Financial sectors mainly. The hedge fund held 24.75 million shares worth $1.03 billion in Comcast Corp (NASDAQ:CMCSK). The second top holding of First Eagle was in Microsoft Corp (NASDAQ:MSFT) with 31.13 million shares worth $1.04 billion at the end of the third quarter. This was followed by Cisco Systems Inc (NASDAQ:CSCO) with 39.22 million shares worth $918.53 million.

Earlier in November, the fund tweaked its stake in Alliant Techsystems Inc. (NYSE:ATK), decreasing the holding to 3.18 million shares from 5.26 million shares.

UniFirst Corp (NYSE:UNF) provides workplace uniforms and protective work wear clothing in the United States, Canada and Europe. The company not only designs and manufacturers but also rents and sells these to manufacturers, retailers and service companies. UniFirst recently posted its results for the first quarter of fiscal 2014, ending November, 2013. Revenues were up by 4.3% on the year to $346.70 million. Net income of $34.46 million was also higher by 12% in comparison with the same period last year.

Among the hedge funds tracked by us, Chuck Royce’s Royce & Associates held 2.17 million shares worth $226.88 million in the company at the end of the third quarter apart from First Eagle. Martin Whitman’s Third Avenue Management also held approximately 428,000 shares worth $44.73 million in the company followed by Jim Simons’ Renaissance Technologies with 127,000 shares worth $13.33 million.